Noreco agrees to UK offshore farm-out with Total

Offshore staff

STAVANGER, Norway – Norwegian Energy Company (Noreco) has agreed to sell 35% of UK offshore license P2032 to Total E&P UK.

This will leave Noreco with a 15% stake, with Total covering the company’s share of seismic acquisition costs.

If the partners commit to drill an exploration well, Total will additionally cover Noreco’s drilling costs for its retained interest.


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